Click to Skip Ad
Closing in...
Kristen Stewart Is First American Actress Nominated for César Awards in 30 Years; 'Saint Laurent' Leads with Ten Kristen Stewart Is First American Actress Nominated for César Awards in 30 Years; 'Saint Laurent' Leads with Ten How They Sustained the Times Square Momentum in 'Birdman' VIDEO How They Sustained the Times Square Momentum in 'Birdman' VIDEO 6 Things to Know About Sexy Sundance Breakout 'Diary of a Teenage Girl,' Part of Sundance's Women's New Wave 6 Things to Know About Sexy Sundance Breakout 'Diary of a Teenage Girl,' Part of Sundance's Women's New Wave Sundance Raves About Ewan McGregor as Jesus and the Devil in 'Last Days in the Desert' Sundance Raves About Ewan McGregor as Jesus and the Devil in 'Last Days in the Desert' Filmmakers, Give Us Your Numbers! Sundance and Cinereach Unveil The Transparency Project Filmmakers, Give Us Your Numbers! Sundance and Cinereach Unveil The Transparency Project Top Ten Takeaways: Polarizing 'American Sniper' Speeds Past $200 Million; Lopez Trounces Depp Top Ten Takeaways: Polarizing 'American Sniper' Speeds Past $200 Million; Lopez Trounces Depp Arthouse Audit: Panic Time? 'Mommy,' 'Red Army,' 'Black Sea,' 'Cake,' 'Duke of Burgundy' All Disappoint Arthouse Audit: Panic Time? 'Mommy,' 'Red Army,' 'Black Sea,' 'Cake,' 'Duke of Burgundy' All Disappoint 2015 PGA Winners: 'Birdman' Steals 'Boyhood''s Awards Season Thunder 2015 PGA Winners: 'Birdman' Steals 'Boyhood''s Awards Season Thunder Watch: Nicole Kidman Talks 'Strangerland' at Sundance (Exclusive Video Interview) Watch: Nicole Kidman Talks 'Strangerland' at Sundance (Exclusive Video Interview) Sundance Acquisitions Market Heats Up with 'The Bronze' and 
'The Witch' Sundance Acquisitions Market Heats Up with 'The Bronze' and 'The Witch' Sundance: Netflix Inks Four-Picture Deal with Duplass Brothers Sundance: Netflix Inks Four-Picture Deal with Duplass Brothers Early Reviews Portend Sundance Breakout in Stylish Historical Horror 'The Witch' Early Reviews Portend Sundance Breakout in Stylish Historical Horror 'The Witch' Sundance: 5 Things to Expect From Alex Gibney's Damning Scientology Doc 'Going Clear' Sundance: 5 Things to Expect From Alex Gibney's Damning Scientology Doc 'Going Clear' Sundance Reviews: 'The Bronze' Is "Potty-Mouthed," "Vinegar-Spirited," Racy Gymnast Comedy Sundance Reviews: 'The Bronze' Is "Potty-Mouthed," "Vinegar-Spirited," Racy Gymnast Comedy 'American Sniper' Writer Jason Hall Addresses Concerns About Clint Eastwood's Controversial War Pic 'American Sniper' Writer Jason Hall Addresses Concerns About Clint Eastwood's Controversial War Pic Martin Scorsese Breaks Long-Awaited 'Silence,' Set to Begin Filming This Month Martin Scorsese Breaks Long-Awaited 'Silence,' Set to Begin Filming This Month Watch: Meet the Women of 'Birdman' (Exclusive 4-Minute Featurette) Watch: Meet the Women of 'Birdman' (Exclusive 4-Minute Featurette) Watch: Hitchcock's Thwarted Holocaust Documentary Comes to HBO Watch: Hitchcock's Thwarted Holocaust Documentary Comes to HBO Best Actor Oscar Predictions 2015 UPDATED Best Actor Oscar Predictions 2015 UPDATED Oscar Predictions 2015 Oscar Predictions 2015

Summit Closes $750 Million Funding; Develops New York Times Article "Deepwater Horizon's Final Hour"

Photo of Anne Thompson By Anne Thompson | Thompson on Hollywood March 9, 2011 at 12:04AM

 No, James Cameron has not picked up the rights to the December 25 New York Times article Deepwater Horizon's Final Hour, although he might turn up as a character in the final movie that Summit Entertainment and Participant Media are developing about the BP Oil disaster (with backing from Imagenation Abu Dhabi). And Summit confirms that it has finally closed a new $750 million deal, for a $550-million term loan plus a $200-million revolving line of credit, led by banks JP Morgan and UBS AG.
4
Thompson on Hollywood

No, James Cameron has not picked up the rights to the December 25 New York Times article Deepwater Horizon's Final Hour, although he might turn up as a character in the final movie that Summit Entertainment and Participant Media are developing about the BP Oil disaster (with backing from Imagenation Abu Dhabi). And Summit confirms that it has finally closed a new $750 million deal, for a $550-million term loan plus a $200-million revolving line of credit, led by banks JP Morgan and UBS AG.

Screenwriter Matthew Sand will adapt the Deepwater Horizon disaster story, written by the NYT's David Barstow, David Rohde, and Stephanie Saul, about the heroes of the oil rig tragedy that sent millions of gallons of oil spilling into the Gulf of Mexico on April 20, 2010. Summit is in talks with producer Lorenzo Di Bonaventura (Red, Salt, Transformers), who could handle a picture of this scale and scope.

Summit production president Erik Feig stated:

“This film will portray the great heroism that took place last year on the Deepwater Horizon rig and how colleagues so courageously came to each other’s aide.  This piece in The New York Times evoked the raw emotion these brave men experienced and endured throughout the tragedy that took place in April of last year and we hope to evoke the same emotions for our audience with this movie.”

This article is related to: Genres, Independents, In Production, Thriller, Summit


E-Mail Updates